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Report of the board of management

Activities of the Supervisory Board

The discussions at the Supervisory Board meetings covered frequently recurring topics, such as reports of its committees, strategy, developments in financial results, business developments, quarterly interim management statements, acquisitions and divestments, key investments, annual budget, internal risk management and control systems, succession planning of the Supervisory Board and Board of Management, remuneration for the members of the Board of Management, corporate governance, investor relations, culture and values, the Financial Statements, and the Annual Report. In addition, the Supervisory Board discussed the acquisition of Granotec do Brazil, the ERP migration project, the succession of Tjerk de Ruiter as CEO, and the appointment of Olivier Rigaud as new CEO.

The Supervisory Board has been closely involved in the strategy review that was initiated by the new CEO, and resulted in the presentation of the updated long-term strategy at the Capital Markets Day in March 2020. The draft strategy update and the principal risks associated with it have been discussed in several meetings. Constructive discussions were held with the Executive Committee and the Supervisory Board played an active role in challenging and testing the ideas of the Executive Committee.

The Supervisory Board and the Executive Committee visited Corbion’s plants in Orindiúva and Araucária in Brazil and met with local management and other colleagues.